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Foreign Exchange Professionals Association FY2020 filing

Not tax-deductible

Katonah, NY501(c)(6)Since 2014Community DevelopmentEIN 47-2026757Revenue $375K in FY2020

On file with the IRSfxpa.orgCo Heckler-200 Katonah Ave Ste 14a, 10536-0000 · Katonah, NYTax-exempt since Nov 2018

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To represent the collective interest of individuals and companies that participate in the institutional Foreign Exchange marketplace and to promote the need for sound, liquid, transparent, and competitive global currency markets to policy makers through education, research and advocacy.

Mission: Form 990 Part I, line 1

Before you give

FY2020 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(6)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 6
filings with a surplus
Average deficit $68K a year · 26% of revenue · last 6 filings
Concern: a surplus in 1 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Cash reserves
13 mo
of spending, in cash
Looks good: 12.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$10K
2% of total assets
Looks good: liabilities are 2% of assets; 50% or less.
Pt X · Ln 26
Independent board members
12
of 12 voting members
Looks good: 12 of 12 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$375K
Spent
$368K
Net assets
$438K
By yearFY2020–FY2025
Revenue
$375K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$375K
FY2021$330K
FY2022$245K
FY2023$240K
FY2024$200K
FY2025$200K
Expenses
$368K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$368K
FY2021$352K
FY2022$348K
FY2023$354K
FY2024$351K
FY2025$227K
Net assets
$438K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$438K
FY2021$416K
FY2022$313K
FY2023$199K
FY2024$49K
FY2025$22K

From the FY2020 Form 990 · see the original

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You’re viewing the FY2020 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Exemption reinstated (2017-11-15). Per the IRS revocation list. Latest filing on record: FY2025. IRS ruling in Nov 2018.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

14 people listed on the 990.

Part VII, Section A · reportable compensation
Chip Lowry
Chairperson & Former Director
$0Pt VII · Sec A
Tod Van Name
Director
$0Pt VII · Sec A
Jessica Sohl
Former Director
$0Pt VII · Sec A
David Goone
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Jill Sigelbaum
Vice-Chairperson
$0Pt VII · Sec A
Chris Matsko
Director
$0Pt VII · Sec A
See Foreign Exchange Professionals Association executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Advocates for sound, liquid, and transparent global currency markets to policymakers.

Questions for Foreign Exchange Professionals Association

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Provided by the organization

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1 program · in their own filed words · FY2020
01

Promoting the need for sound, liquid, transparent, and competitive global currency markets to policy makers through education, research and advocacy.

Pt IX · col B

By the numbers

The FY2020 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$375K
Ln 12
Fees for servicesLn 2g$375K
Money outPt IX
$368K
Ln 25
Owns and owesPt X
$438K
net assets · Ln 32
Cash and savingsLn 1–2$393K
Total assetsLn 16$448K
LiabilitiesLn 26$10K
PeoplePt VI, VII
14
listed · VII A
PaidVII A0
Voting boardVI 1a12
IndependentVI 1b12
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$375K
Total revenueLn 12$375K
Assets in detailPt X, end of year
CashLn 1$393K
Cash and savings togetherLn 1–2$393K
Total assetsLn 16$448K
LiabilitiesLn 26$10K
Net assetsLn 32$438K
OperationsPt I, VI
EmployeesI 50
VolunteersI 610
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY20End FY20
Cash and savingsLn 1–2$396K$393K
Total assetsLn 16$432K$448K
LiabilitiesLn 26$0$10K
Net assetsLn 32$432K$438K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Legal feesLn 11b$260K
Accounting feesLn 11c$10K
Other fees for servicesLn 11g$95K
TravelLn 17$2K
InsuranceLn 23$1K
Other expenses (24a–d)Ln 24$315
Total functional expensesLn 25$368K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $200K$227K−$27K$22K 990 PDF
FY2024 $200K$351K−$151K$49K 990 PDF
FY2023 $240K$354K−$114K$199K 990 PDF
FY2022 $245K$348K−$103K$313K 990 PDF
FY2021 $330K$352K−$22K$416K 990 PDF
FY2020 Viewing $375K$368K$7K$438K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2020 990 (6 parts)
Part I · Summary $375,000 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $426,667$375,000
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $426,667$375,000
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $360,801$368,026
I-18 Total expensesPrior year $360,801$368,026
I-19 Revenue less expensesPrior year $65,866$6,974
Part VI · Governance 12 of 12 board members independent, 1 to look at
VI-1a Voting members of the governing body12
VI-1b Independent voting members12
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $375,000 across 2 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $375,000$375,000
VIII-12 Total revenueRelated to mission $375,000 · Unrelated business $0 · Excluded from tax $0$375,000
Part IX · Statement of functional expenses $368,026 across 6 lines filed
IX-11b Legal fees$260,000
IX-11c Accounting fees$9,600
IX-11g Other fees for services$95,000
IX-17 Travel$1,754
IX-23 Insurance$1,357
IX-24 Other expenses (24a–d)$315
IX-25 Total functional expenses$368,026
Part X · Balance sheet $448,483 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $396,092$393,483
X-4 Accounts receivableStart of year $11,667$55,000
X-16 Total assetsStart of year $431,509$448,483
X-17 Accounts payable and accrued expenses$10,000
X-26 Total liabilitiesStart of year $0$10,000
X-32 Total net assets or fund balancesStart of year $431,509$438,483
X-33 Total liabilities and net assetsStart of year $431,509$448,483
Part XI · Reconciliation of net assets $438,483 net assets at year end
XI-1 Total revenue$375,000
XI-2 Total expenses$368,026
XI-3 Revenue less expenses$6,974
XI-4 Net assets at start of year$431,509
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$438,483

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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